7 tips to protect privacy of your cryptocurrency Assets

Started by lokdown, Jul 21, 2022, 12:30 AM

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lokdownTopic starter

Cryptocurrencies are becoming increasingly popular and their integration into our daily lives is inevitable. Despite occasional difficulties with Bitcoin and other cryptocurrencies, people continue to acquire them for investment and personal use. Given their importance, it is vital to consider security and privacy.

The Coincheck heist, which involved half a billion dollars, has underscored the need for security in the crypto industry. Although the high volatility of cryptocurrencies poses a risk of losing money, the lack of secure storage is much more dangerous. We recommend carefully considering how to store assets before purchasing them.

To maintain confidentiality when dealing with crypto currency, follow these steps:

1. Do not use the same address twice. This ensures your identity remains anonymous and secure.

2. Create a separate email address for your cryptocurrencies. Use encrypted emails to prevent hackers from accessing information related to finances.

3. Avoid connecting to public Wi-Fi, as such networks are often targeted by hackers.

4. For added security, use a virtual private network (VPN) during transactions. Free VPN services may not provide sufficient protection, so it's best to opt for a paid service.

5. Choose wallets with two-factor authentication to prevent unauthorized access.

6. Install premium antivirus software and set up a firewall to protect your computer.

7. Avoid storing passwords online, even in encrypted files or folders. Instead, consider using a safe deposit box for added security.


Although these tips may seem basic, they can be invaluable for saving money when dealing with cryptocurrencies.

I recall a similar incident that occurred with the Italian exchange BitGrail, which resulted in many of my acquaintances losing their money. As a result, most people started changing their addresses to prevent hacking.


The tips are really very helpful and simple. I liked the last tip 7 the most, where the author says that he is banal. I completely agree with the author - this is trite. You will laugh, but I really save my key codes on the Internet, I have a bloknotik where I save them because I'm too lazy to use a pen ...) After reading the article, I will develop the habit of not leaving my passwords on the Internet anymore. The article was very helpful for me. The author tried! Big thanks. I use tips


To safeguard your account, use standard security measures while registering on any exchange or trading platform. Follow these simple steps to ensure account and fund security:
- Use a strong password and change it regularly, avoiding personal identifiable information. Opt for a long password and mix it with characters, numbers, lowercase and uppercase letters.
- Enable two-factor authentication (2FA) for added security.
- Beware of phishing attacks and scammers impersonating exchanges or proxies.

Once you have purchased cryptocurrency and secured your account, you need to store it safely. Depending on your preferred security level, choose a wallet with appropriate ownership rights of private keys and internet connection.


From personal experience, I can still offer the following options:
  • Don't neglect two-factor authentication. If the site offers, then use it. If he offers, then leave this test.
  • Use identity verification apps like Google Authenticator.
  • Check the list of devices from which you log in or try to log into your account.
The main thing is not to be lazy to write passwords on paper. This is sometimes difficult to do right away, but it is useful from a security point of view.


Protecting the privacy of your cryptocurrency assets is crucial to ensure their security and prevent unauthorized access. Here are some tips to help you protect your privacy:

1. Use a Unique Wallet Address: Generate a new wallet address for each transaction you make. This prevents others from tracking your transactions and linking them to your identity.

2. Utilize Anonymous Cryptocurrencies: Consider using privacy-centric cryptocurrencies like Monero or Zcash, which offer enhanced privacy features such as obfuscated transaction details and shielded addresses.

3. Avoid Reusing Addresses: Never reuse addresses for multiple transactions. Reusing addresses makes it easier for others to track your transaction history and potentially identify your identity.

4. Use Tor or VPN: When accessing cryptocurrency wallets or exchanges online, use tools like Tor or a virtual private network (VPN) to obfuscate your IP address and maintain anonymity.

5. Secure Your Digital Footprint: Protect your personal information online by using strong, unique passwords, enabling two-factor authentication, and being cautious about sharing personal details on social media or other platforms.

6. Encrypt Communications: When communicating about your cryptocurrency assets, use encrypted channels such as secure messaging apps or end-to-end encrypted email services to prevent unauthorized access to sensitive information.

7. Be Wary of Phishing Attacks: Stay vigilant against phishing attempts by double-checking email senders, avoiding suspicious links, and never sharing your private keys or recovery phrases with anyone.

8. Store Cryptocurrency Offline: Consider storing your cryptocurrencies in hardware wallets (cold storage) instead of online wallets (hot wallets). Cold storage keeps your private keys offline, minimizing the risk of remote attacks.

9. Regularly Update Software: Keep your cryptocurrency wallet and related software up to date with the latest security patches. Updates often include fixes for any identified vulnerabilities.

10. Educate Yourself: Continuously learn about current privacy best practices, emerging threats, and new privacy-enhancing technologies. Staying informed will help you adapt to evolving privacy challenges.

11. Use CoinJoin or Mixing Services: Consider leveraging services like CoinJoin, which combines multiple transactions into one, making it difficult to trace individual transactions. Mixing services can also help obfuscate the origins of your cryptocurrencies.

12. Choose Decentralized Exchanges: Opt for decentralized exchanges (DEX) that do not require users to provide personal information or undergo identity verification. This helps maintain your privacy by avoiding the need to disclose identifying information.

13. Consider Privacy Coins: Look into utilizing privacy-oriented cryptocurrencies like Dash, Verge, or PIVX, which offer built-in privacy features to safeguard your transactions and financial details.

14. Be Careful with Public Wi-Fi: Avoid accessing your cryptocurrency wallets or conducting transactions over public Wi-Fi networks, as they can be vulnerable to hackers and potential eavesdropping. Stick to secure and private networks whenever possible.

15. Regularly Monitor Your Accounts: Keep a close eye on your cryptocurrency accounts and regularly review transaction history. Promptly report any suspicious activity to your exchange or wallet provider.

16. Diversify Your Holdings: Spreading your cryptocurrency holdings across multiple wallets or exchanges can increase your privacy by making it harder to link all your assets to a single identity.

17. Be Mindful of Metadata: Be cautious about the information you share online related to your cryptocurrency activities. Even seemingly innocuous details can be used to correlate and identify you.

18. Minimize Third-Party Involvement: Reduce your reliance on third-party services by utilizing decentralized protocols and wallets that allow you to maintain control of your private keys and transactions.

19. Consider Privacy-Focused Browsers: Use privacy-focused browsers like Brave or Tor Browser when accessing cryptocurrency-related websites. These browsers come with built-in privacy features that can help protect your online activity.

20. Stay Informed and Use Best Practices: Keep up with the latest developments in cryptocurrency privacy, follow reputable sources for security news, and follow best practices to stay ahead of potential risks and threats.

21. Consider Using CoinSwap: CoinSwap is a method that involves swapping your coins with another user's coins of equal value to obfuscate transaction history. This technique can enhance privacy by making it difficult to trace the origin or destination of the coins.

22. Practice Good OpSec (Operational Security): Be cautious about sharing sensitive information about your cryptocurrency holdings or activities with others. Limit the amount of personal information you disclose online, and be mindful of who you trust with access to your private keys or wallets.

23. Use Privacy-Focused Operating Systems: Consider using privacy-oriented operating systems like Tails or Qubes OS, which are designed to prioritize user privacy and security. These operating systems can help protect your overall digital footprint, including your cryptocurrency activities.

24. Enable Privacy Features: Take advantage of privacy features offered by your cryptocurrency wallets or exchanges. These may include options like stealth addresses, encrypted memo fields, or privacy mode settings that can enhance confidentiality and limit the exposure of your transaction data.

25. Conduct Private Transactions: Explore platforms that support private transactions, such as decentralized finance (DeFi) protocols with privacy-focused features. These platforms can provide additional layers of privacy by leveraging techniques like zero-knowledge proofs or secure multi-party computation.

26. Stay Informed about Privacy Enhancements: Keep track of advancements in privacy-enhancing technologies within the cryptocurrency space. Stay updated on developments like confidential transactions, ring signatures, or other privacy-focused improvements that can strengthen your security.

27. Regularly Audit Your Digital Footprint: Periodically review your online presence and assess the information available about you. Remove unnecessary personal details from social media accounts and adjust privacy settings to minimize your digital footprint.

28. Take Extra Precautions with Mobile Wallets: If you use a mobile wallet, ensure that your device is password-protected, updated with the latest security patches, and use secure app stores to download wallet applications.

29. Use Privacy-Focused Search Engines: Utilize privacy-focused search engines like DuckDuckGo or Startpage to minimize the tracking of your online activities related to cryptocurrencies.

30. Consider Self-Custody: Consider taking full control of your cryptocurrency assets by using self-custody solutions like hardware wallets or paper wallets. This approach limits third-party involvement and reduces the risk of data breaches or hacks.